CANADIAN CHAMBER OF COMMERCE WELCOMES REVISED TAX REFORMS AND LOWER SMALL BUSINESS TAX BUT REMAINS VIGILANT

The Canadian Chamber of Commerce (CCC) welcomes the government’s plans to revise its proposed tax reforms and to reduce the small business tax rate as a result of the comments and concerns expressed through the #ProtectGrowth campaign and in consultations.
“Finance Minister Bill Morneau has responded to some of the concerns expressed by the CCC and the small and medium-sized businesses it represents, and by his caucus colleagues,” said CCC CEO and President Perrin Beatty. “The government’s revised package is still not perfect, but is more balanced and it addresses a number of the issues that have been raised over the past several weeks.”
As Canadians celebrate Small Business Week, Beatty congratulates the thousands of business people who joined the CCC’s mobilization and made their voices heard on this important issue affecting Canadian workers and employers. “By providing a voice for businesses in communities across Canada, the CCC and its network of local chambers (including the Flamborough Chamber of Commerce – FCC) helped prevent devastating damage. But the hard work has only started,” Beatty added.
The CCC also noted the Minister’s call for further input from Canadian businesses, and intends to continue providing a voice to ensure the tax system is simpler and less of a burden on Canada’s competitiveness.
“It is always more productive when government and business work together. We can only hope the government will listen as we provide advice on those areas where more remains to be done, and that they will propose concrete data to back up their claims. The CCC will be reaching out to its membership across the country for suggestions on reforms that can improve the competitiveness of Canada’s tax system. Lowering the small business tax rate is one such measure, but there is still much room for improvement,” Beatty said. “At a time when our largest trading partner is initiating a major overhaul of its tax system, we must ensure that Canada remains an attractive place to do business. Although there is a great deal of work to be done, today’s announcement is a positive first step, but we expect more and we will be vigilant on the next steps,” he concluded.
The CCC is the vital connection between business and the federal government. It helps shape public policy and decision-making to the benefit of businesses, communities and families across Canada with a network of over 450 chambers of commerce and boards of trade (including the FCC), representing 200,000 businesses of all sizes in all sectors of the economy and in all regions.